Alexandre Nguyen and Mathieu Roberge
The purpose of this study is to examine the pertinence of combining the positioning along the US presidential election cycle and the inversions of the yield curve as a guide for a…
Abstract
Purpose
The purpose of this study is to examine the pertinence of combining the positioning along the US presidential election cycle and the inversions of the yield curve as a guide for a market timing strategy on the S&P 500. These variables provide warning signals for either an abnormally high probability of tighter future economic conditions or an abnormally high probability of more accommodative future economic conditions, not both. As such, they represent natural complement.
Design/methodology/approach
The combination of the two variables leads to four scenarios: inverted yield curve or not and first half or second half of the presidential cycle. Two timing strategies are proposed to act on these scenarios: the “type T” strategy for Traditional investors not allowed to sell short and focusing on active risk focus and the “type H” strategy for Hedge Fund‐like investors focusing on absolute risk.
Findings
Compared to a buy‐and‐hold investment in the S&P 500, the “type H” version increases the return per unit of risk from 0.81 to 1.10 and the “type T” delivers an annualized information ratio of 0.62. Robustness tests show that the strategy adds value under both specifications in the majority of 1‐, 3‐ and 10‐year sub‐periods. Application of the Henriksson‐Merton test confirms that the two strategies have a genuine market timing ability.
Originality/value
While the predictive variables have been investigated on a standalone basis, the idea of combining these two predictors is new. The idea of examining market timing from the perspective of both traditional investor and hedge fund like investor is also original.
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Waheed Ali Umrani, Alexandre Anatolievich Bachkirov, Asif Nawaz, Umair Ahmed and Munwar Hussain Pahi
This study examines the impact of inclusive leadership on two important work outcomes, i.e., employee performance and well-being. In order to better understand the above…
Abstract
Purpose
This study examines the impact of inclusive leadership on two important work outcomes, i.e., employee performance and well-being. In order to better understand the above relationships, this study theorizes that employee psychological capital is a mediating mechanism and family motivation is a moderating mechanism.
Design/methodology/approach
The authors collected 370 responses in three different time waves with an interval of one week. All the constructs of the study were rated by employees except for the supervisor’s family motivation, which was rated by their supervisors. Given the predictive nature of the study, partial least squares structural equation modeling (PLS-SEM) was used for data analysis.
Findings
The authors' findings confirm the mediating role of employee psychological capital in the relationship between inclusive leadership and employee performance and in the relationship between inclusive leadership and employee well-being. The moderating effects of supervisor family motivation in the relationship between inclusive leadership and employee performance were also significant; however, the authors did not find empirical support for the moderating effects of family motivation in the relationship between inclusive leadership and employee well-being.
Originality/value
Drawing on the conservation of resources (COR) theory, the present study extends the authors' understanding of the unique ways in which inclusive leadership improves employee performance and benefits their well-being.
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Mohammad Rezaur Razzak and Alexandre Anatolievich Bachkirov
Drawing on mindfulness theory, this study attempts to gain insights into whether leader-mindfulness (LM) influences workplace cynicism (WPC) among non-family employees (NFEs…
Abstract
Purpose
Drawing on mindfulness theory, this study attempts to gain insights into whether leader-mindfulness (LM) influences workplace cynicism (WPC) among non-family employees (NFEs) working in small and medium-sized private family firms. Furthermore, the study leverages the self-determination theory to examine if the above relationship is mediated by the belongingness of the NFEs to the organization and leader–member exchange quality (LMXQ).
Design/methodology/approach
A conceptual framework with a set of hypotheses is developed. Using cross-sectional survey data collected from 376 NFEs working in small and medium-sized private family firms in Oman, the hypotheses are tested using structural equation modeling that was analyzed through PLS-SEM.
Findings
The results indicate that LM influences WPC both directly and through the mediating effect of LMXQ. The findings also suggest that, while LM influences belongingness, and that belongingness also mediates the relationship between LM and LMXQ. However, belongingness does not mediate the relationship between LM and WPC, either by itself or serially.
Practical implications
The prevalence of WPC among NFEs in family firms hinders the ability of such organizations to retain talented employees that are outside the family circle. Hence, this study presents nuanced insights to those who manage such organizations, as it reveals that leading the family business mindfully can markedly reduce WPC among NFEs, particularly when LM enhances LMXQ.
Originality/value
The study makes four novel contributions. First, this appears to be the first study at the crossroads of the family business and organizational behavior literature to investigate the under-researched topic of WPC among NFEs in family firms. Second, the study provides insights into the relationship between LM and WPC by developing a conceptual framework that draws on mindfulness theory and self-determination theory. Third, it identifies the mediating role of LMXQ in the link between LM and WPC. Finally, it reveals that, although the belongingness of NFEs to their organization is influenced by LM, it does not automatically influence WPC.
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Cecília Dutra Carolino, Giullia Gallego, Alexandre Nicolella and Elaine Toldo Pazello
This paper evaluates the short-term impact of childcare centres' closures, due to COVID-19 restrictions, on Brazilian mothers' labour force participation and employment rates.
Abstract
Purpose
This paper evaluates the short-term impact of childcare centres' closures, due to COVID-19 restrictions, on Brazilian mothers' labour force participation and employment rates.
Design/methodology/approach
Formal education is non-mandatory according to Brazilian law until the age of four, allowing the identification of children that attend childcare centres and of those that do not attend. Using data from the Brazilian Household Survey, PNAD Contínua/IBGE, the authors construct a two-period panel with women sampled in the second quarter of 2019 and 2020. The authors apply propensity score matching and differences-in-differences methods to control selection into treatment.
Findings
The results show a negative impact in terms of employment for mothers whose children attended a childcare centre before the COVID-19 pandemic. But there was no impact in terms of labour force participation rates. Investigating heterogeneous effects associated with childcare centres' closures, the authors find that women with fewer years of schooling, with children aged two or three years old and located in urban areas, suffered greater penalties in the labour market due to the closure of childcare centres.
Originality/value
Few studies could distinguish the pandemic effects directly associated with childcare centres' closures. The paper is the first to analyse the Brazilian case, undertaking an original approach to handle the problem of selection bias. The results help identify the most vulnerable groups of women in the labour market, shedding light on the importance of childcare centres on women's labour supply and of compensating mechanisms to serve as protection during the crisis.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2022-0748.
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Alexandre dos Reis and José Manuel Cristovão Veríssimo
The purpose of this study is to map and analyze the academic production regarding the relationship among organizational culture (OC), corporate social responsibility (CSR) and…
Abstract
Purpose
The purpose of this study is to map and analyze the academic production regarding the relationship among organizational culture (OC), corporate social responsibility (CSR) and organizational performance (OP), based on 240 papers listed in the Web of Science (WoS) database.
Design/methodology/approach
This research was performed based on a bibliometric analysis supported by the VOSviewer software, followed by a content analysis of 37 prominent publications.
Findings
The results make it possible to identify the geographical and institutional profile of the production, the level of collaboration and interaction between the researchers and their theoretical base of reference, and to consolidate the main characteristics, trends, and future directions of research in this field.
Practical implications
This study propitiates a vast and practical repertoire that addresses business issues involving the relationship among OC, CSR and OP aiming to help the managers to interpret their local realities and challenges, especially due to positive impacts that such relationship can generate in the business.
Originality/value
A systematic literature review involving specifically the themes of OC, CSR, and OP in a scenario of gradual growth in the number of publications and interest in these themes.
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Organizational innovations are closely associated with organizational knowledge, and thus a firm builds its knowledge base to enhance its innovative performance. However, insights…
Abstract
Purpose
Organizational innovations are closely associated with organizational knowledge, and thus a firm builds its knowledge base to enhance its innovative performance. However, insights into this process are still limited, especially in the context of firms in developing countries. Building on the dynamic managerial capabilities literature and open innovation paradigm, this paper attempts to fill this gap by developing and empirically testing a model that investigates how firms in developing countries accumulate knowledge to innovate.
Design/methodology/approach
A model of a firm's knowledge accumulation and innovation is proposed in which it specifies relationships among absorptive capacity, knowledge breadth, research and development (R&D), knowledge depth, exploratory innovation and exploitative innovation, and then it is empirically tested by using the structural equation modeling (SEM) technique based on the surveyed data of Vietnamese firms.
Findings
The results indicate that absorptive capacity positively influences both knowledge breadth and knowledge depth, knowledge breadth positively influences R&D, R&D positively influences exploratory innovation and knowledge depth, and knowledge depth positively influences exploratory and exploitative innovation.
Practical implications
The study proposes an “acquire and develop” open innovation model for firms in developing countries in which firms acquire external technologies and then develop R&D (develop and design) capability to adapt acquired technologies to their local conditions to create new organizational-specific capabilities and exploratory innovation.
Originality/value
This study argues that external knowledge acquisition is beneficial to innovative performance of firms in developing countries via renewing their knowledge base. Furthermore, the study provides the unique evidence that novel external knowledge acquisition and internal R&D are fit to each other in the fit-as-mediation form in which novel external knowledge acquisition is mediated by R&D to positively influence exploratory innovation.
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Hanieh Khodaei, Victor Scholten, Emiel Wubben and Onno Omta
Recent studies have questioned the direct relationship between entrepreneurial orientation (EO) and firm performance (e.g., Rauch, Wiklund, Lumpkin, & Frese, 2009; Wales, Gupta, &…
Abstract
Recent studies have questioned the direct relationship between entrepreneurial orientation (EO) and firm performance (e.g., Rauch, Wiklund, Lumpkin, & Frese, 2009; Wales, Gupta, & Mousa, 2013). Following this stream of research, this study examines this relationship by identifying the intermediate steps between these two variables (Alegre & Chiva, 2013; Wales, 2016; Zahra, Sapienza, & Davidsson, 2006). EO is considered essential for new market entry and new business foundation, which is why this study focuses on startups. Startups search for viable business opportunities, and this search is highly dependent on organizational learning (Kreiser, 2011). Previous studies suggest that organizational learning mediates the relationship between EO and performance (e.g., Real, Roldan, & Leal, 2014; Wang, 2008). This study investigates the role of organizational learning in this relationship by analyzing how EO and absorptive capacity (AC) interact. We propose a more direct and fine-grained measure of entrepreneurial success by developing a conceptual model that includes opportunity identification as an early outcome measure for startups. Drawing on a sample of 95 academic spin-offs in the Netherlands, this study examines the mediating role of AC and market readiness in the relationship between EO and market opportunities. The findings indicate that AC and market readiness mediate the direct effect of EO on market opportunity identification. By using opportunity identification as an outcome measure for EO, this study adopts a more direct measure for firm performance, resonating with recent discussions on the main effect of EO for organizations. These findings suggest that academic spin-offs’ AC leads entrepreneurial efforts to achieve a better product-market fit, and in return, helps to identify more market opportunities.
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Gustavo Quiroga Souki, Luiz Marcelo Antonialli, Álvaro Alexandre da Silveira Barbosa and Alessandro Silva Oliveira
À la carte restaurants have faced increasing challenges in meeting the needs and desires of new food consumers. The purpose of this paper is to propose and test a model for…
Abstract
Purpose
À la carte restaurants have faced increasing challenges in meeting the needs and desires of new food consumers. The purpose of this paper is to propose and test a model for evaluating the consumers’ perceived quality of à la carte restaurants and to review the impact on their attitudes and behavioural intentions.
Design/methodology/approach
A survey was conducted with 508 university students in Brazil, and the data were analysed using structural equation modelling (SEM).
Findings
The results showed that global perceived quality (GPQ), which is a multidimensional construct with nine dimensions, directly impacted emotions, the satisfaction and perceived value by consumers. This satisfaction positively affected word-of-mouth (WOM) communication and the propensity for loyalty. Price did not have a statistically significant impact on customer satisfaction.
Originality/value
This paper, based on the structural model herein proposed and tested, is the most complete of all available articles in the literature about à la carte restaurants, as this study contemplates a greater number of perceived quality factors. In addition, both tangible and intangible perceived quality factors were included in this tested model, which goes beyond what is typically contemplated in other such. Moreover, none of the existing articles in the existing literature simultaneously observed the relationship between perceived quality, positive and negative emotions, price, perceived value, satisfaction, WOM communication and propensity to loyalty. Finally, the questionnaire developed in this study could be used both by academics in future studies and by restaurant managers.
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Alexandre Anatolievich Bachkirov
The purpose of this paper is to explore the relationship between external monetary incentives (EMI) and affective commitment (AC), normative commitment (NC), and continuance…
Abstract
Purpose
The purpose of this paper is to explore the relationship between external monetary incentives (EMI) and affective commitment (AC), normative commitment (NC), and continuance commitment (CC).
Design/methodology/approach
Data were obtained from a sample of 880 employees of different education and job levels, industries, sectors, and salary grades.
Findings
An increase in EMI value is linked to a weakening of AC. In a non-Western context, specific employee characteristics – salary grade, educational level, industry type, and employment in the private vs public sector – are associated with different levels of CC. At the same time, employees at different job levels (top managers, middle managers, supervisor, and operative-level employees) are differently predisposed toward AC and NC. Job level emerged as a moderating variable between EMI and AC.
Practical implications
Understanding of the ways in which EMI are related to organizational commitment will inform organizational decision makers about how to be more successful in retaining valuable employees.
Originality/value
The study offers a systematic exploratory examination of the relationship between commitment components (AC, NC, and CC) and the amount of salary offered by an alternative employer.
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M Anand Shankar Raja, Keerthana Shekar, B Harshith and Purvi Rastogi
The COVID-19 pandemic has recently had an impact on the stock market all over the globe. A thorough review of the literature that included the most cited articles and articles…
Abstract
The COVID-19 pandemic has recently had an impact on the stock market all over the globe. A thorough review of the literature that included the most cited articles and articles from well-known databases revealed that earlier research in the field had not specifically addressed how the BRIC stock markets responded to the COVID-19 pandemic. The data regarding COVID-19 were collected from the World Health Organization (WHO) website, and the stock market data were collected from Yahoo Finance and the respective country’s stock exchange. A random forest regression algorithm takes the closing price of respective stock indices as target variables and COVID-19 variables as input variables. Using this algorithm, a model is fit to the data and is visualised using line plots. This study’s findings highlight a relationship between the COVID-19 variables and stock market indices. In addition, the stock market of BRIC countries showed a high correlation, especially with the Shanghai Composite Stock Index with a correlation value of 0.7 and above. Brazil took the worst hit in the studied duration by declining approximately 45.99%, followed by India by 37.76%. Finally, the data set’s model fit, which employed the random forest machine learning method, produced R2 values of 0.972, 0.005, 0.997, and 0.983 and mean percentage errors of 1.4, 0.8, 0.9, and 0.8 for Brazil, Russia, India, and China (BRIC), respectively. Even now, two years after the coronavirus pandemic started, the Brazilian stock index has not yet returned to its pre-pandemic level.